FIND THE DEFINITION FOR ANY REAL ESTATE TERM

Click on the letters above for terms beginning with that letter, and then click on the term below.

Don’t see a term here?  Feel free to ask us.  (Unfortunately, however, we cannot give you real estate or legal advice.)

MAJORITY (or AGE OF MAJORITY) – The age at which a person may legally handle their own affairs.

MORTGAGE – A two-party instrument used to pledge a property as security for a loan.  The borrower (the MORTGAGOR) gives the Mortgage to the lender (the MORTGAGEE) in exchange for the funds to purchase or re-finance the purchase of real property.  In spite of common usage, the Mortgage is not the same thing as the loan, but rather one part of the loan agreement.

MULTIPLE LISTING SERVICE (MLS) – A computer database listing properties from member real estate companies.  Enables an agent from one company to sell a property listed by another company.

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